Guideline Value for Indra Gandhi Street

Indra Gandhi Street guideline value

The current guideline value of Indra Gandhi Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Indra Gandhi Street has changed

The guideline value for Indra Gandhi Street has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft. This increased significantly to Rs 2,400 per sq.ft in 2012, marking a rise of 860%. However, in 2017, the value decreased to Rs 1,608 per sq.ft, which represented a decline of 33%. The next revision in 2023 brought the value up to Rs 2,400 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,640 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 956%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, which means that Indra Gandhi Street's 2024 value is above that median.

• Indra Nagar: Rs 1,320 per sq.ft (2024)
• Irai kutty Street: Rs 1,980 per sq.ft (2024)
• Ishwarya Garden: Rs 3,960 per sq.ft (2024)
• Ilango Street: Rs 2,310 per sq.ft (2024)
• Haritha Enclave (M.S.): Rs 1,650 per sq.ft (2024)
• Janaki Raman Street: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, making the total cost for these fees Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indra Gandhi Street?

The Sub Registrar Office that covers Indra Gandhi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Perungalathur

The guideline value is a critical factor when registering property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. The value is set by the government and can influence the overall cost of buying or selling property.

When a property is sold, the buyer and seller must consider the guideline value to ensure that the registration is completed accurately. This value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Indra Gandhi Street?

The current guideline value of Indra Gandhi Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, marking a total increase of 956% over the years.

What is the land classification for Indra Gandhi Street?

Indra Gandhi Street is classified as Residential Class I Type - I.

Where can I find the registration office for Indra Gandhi Street?

The registration office for Indra Gandhi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties on Indra Gandhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 26,40,000, the stamp duty would be Rs 1,84,800 at a rate of 7%.